Paytm walletis the most often used digital wallet post demonetization. Due to the effect of demonetization, most of the customer’s stopped cash transactions as they are proven to be expensive. Now, the customers are opting for alternative methods like digital wallets.

The Paytm M walletwas providing its services free of charge on debit and credit cards usage via their wallets. Most of the Paytm customers of were using the Paytm wallet via credit cards free of cost without any charges.

But, here is interesting news from a press release by Paytm on 8th March 2017, i.e. the free transaction feature will no longer be available for customers as Paytm has announced to levy charges for loading their digital wallets via credit cards.

Paytm released a press note stating that they have been paying huge levy charges for the customers who are loading their Paytm wallet via credit card, which has been widely used and exploited by most of the tech and financial savvy customers.

To recover from this Paytm management has announced a solution for this issue and is planning to levy a charge of 2% on customers who load their Paytm wallet via credit cards. (Paytm has promised to give back the amount charged in the form of discount coupons)

Respectively, Paytm has also made it clear that customers using a debit card or internet banking to load their Paytm wallet will continue to enjoy the free transaction feature without any additional charges.

Whereas, CEO of MobiKwik has announced that, “In order to popularise the government’s vision of a cashless society, we at MobiKwik have decided not to charge 2 percent on credit card recharges so that more people can transact online without having to worry about additional charges.” Mobikwik has more than 55 million users, while Paytm recently crossed 200 million wallet users.

PAYTM is one of the India’s largest e-commerce companies which operate in all states of India offering various services like prepaid mobile, DTH and Data card recharge and also with banks for money transfers.

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